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IndiaMART InterMESH Ltd has also treated shareholders to a special dividend of ₹20 per share, in addition to a normal dividend of ₹30 per share, as it shuts the March quarter with robust financial performance and continued business momentum.
Highlights:
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Dividend Bonanza: The Board has proposed a special dividend of ₹20 per share and a regular dividend of ₹30 per share, indicating IndiaMART's robust cash balance and commitment to rewarding investors. The ex-date for the ₹20 payment is June 7, 2024.
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Q4 Financial Performance: Consolidated revenue from operations during the March quarter jumped to ₹355 crore, a noteworthy year-on-year expansion. The company's consolidated net profit during the quarter was at ₹181 crore, highlighting operating efficiency and strong demand for its B2B digital marketplace offerings.
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Consistent Growth Path: IndiaMART's receipts from customers expanded by 16% to ₹484 crore in the quarter, aided by both its standalone business and its Busy Infotech subsidiary. The company earned ₹260 crore in cash from operations in Q4, further consolidating its financial position.
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Leadership Commentary: CEO Dinesh Agarwal pointed to the company's consistent growth in revenues, profits, and cash flows, citing optimism for further profitable growth as digital adoption in India continues to pick up.
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Market Response: IndiaMART shares closed at ₹2,648.20 pre-result, indicating optimistic investor mood.
IndiaMART's double dividend and strong Q4 performance reaffirm its leadership position in India's B2B e-commerce market and its resolve to provide value for shareholders.
Sources: Business Standard, The Hindu Business Line, BlinkX
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